iPhone cuts prices, Apple announces $100 credit
Apple CEO Steve Jobs announced a price cut on the iPhone barely 2.5 months after its launch. This irked a lot of existing customers and Jobs quickly went into damage control by announcing that all existing iPhone customers would be getting a $100 credit towards their phone bill. This has by far been the quickest price cut that I have seen, but it makes sense as Apple can afford a cut right now. The iPhone is supposedly costing Apple around $250 in manufacturing costs and sells at $499 and $599 for 4GB and 8GB models respectively.
The following is a good article to read on the recent price cut from Apple:
http://www.efluxmedia.com/news_The_iPhone_vs_the_PS3_A_Price_Cut_Comparison_08398.html